Top Ten Smart Money Moves – November 22, 2017
Top Ten Smart Money Moves, starting January 2015, is the official trading newsletter of The Responsible Trader to promote his advocacy, Responsible Trading. This newsletter contains the previous day’s data from PSE, the Top Ten Foreign Buying and Selling, Top Ten in Total Traded Value, including Trading Notes based on the data of the previous day. This newsletter is given free to all the friends of The Responsible Trader and to members of the Facebook group and the other organizations where he is a member. For the previous issue where complete details about the newsletter was fully discussed, please refer to: Daily Top Tens October 17, 2014.
Trading Notes for Today – (Based on November 22, 2017 Data)
Total Traded Value – PhP 6.931 Billion – Low
Advances Declines – (Ideal is 2:1) 109 Declines vs. 83 Advances = 1.31:1 Neutral
Total Foreign Buying – PhP 3.184 Billion
Total Foreign Selling – (PhP 3.453) Billion
Net Foreign Buying (Selling) – (PhP 0.269) Billion – 2nd day of Net Foreign Selling after 2 days of Net Foreign Buying
Data from the Philippine Stock Exchange
Screenshot courtesy of: www.pse.com.ph
PSE HEAT MAP
Screenshot courtesy of PSEGET
Top Ten Foreign Buying and Selling
Top Ten in Total Traded Value
Top Ten Gainers and Losers
From now on, I will just quote the related article from Business World so that we will have everything in one piece:
PSEi down on profit taking ahead of Fed minutes
November 23, 2017
STOCKS continued their downward movement for the second day in a row due to profit taking amid a good forecast for Asian equities next year and ahead of the release of the minutes of the last Federal Open Market Committee (FOMC) meeting, as well as the US Thanksgiving holiday.
The Philippine Stock Exchange index (PSEi) closed at 8,265.68, down 23.51 points or 0.28%.
The all-shares index, meanwhile, closed at 4,846.38, down 5.30 points or 0.10%.
“The index closed in the negative territory today as investors took profits in SM [Investments Corp.] and BDO [Unibank, Inc.] after the banking stock reached its all-time high of P149.50. I also think that the last-minute dumping today is just another ordinary day of profit taking for investors after a good announcement from Goldman Sachs said that Asian equities excluding Japan may see favorable returns in 2018,” Jervin S. de Celis, equities trader at Timson Securities, Inc., said in a text message on Wednesday.
US banking giant Goldman Sachs Group, Inc. released yesterday a report forecasting strong performance of stocks in Asia except Japan, after a 33% rally in 2017. Goldman Sachs increased its 12-month target for the MSCI Asia Pacific index ex-Japan by 9.7% to 620, favoring China, India, and South Korea stocks.
“Equities were sold down ahead of both the FOMC minutes and the Thanksgiving holiday. Bets were also placed, which arose as investors speculating on whether the US tax cut would keep the current economic expansion going,” Luis A. Limlingan, managing director at Regina Capital Development Corp. said in a text message.
Concerns over the proposed tax reform plan of the Republican Party still linger in Wall Street, with the uncertainty of the passage of the plan in the legislative bodies in the US.
Meanwhile, the FOMC minutes were scheduled for release last night.
“Looking into the indicators, we can see hints of continued decline although as of now the 50-day moving average is slightly breached. If this trend continues this week, we get to see another strong support level at 8,100. We also have to note that ATR (average true range) is still recording high volatility levels so caution is advised,” Mr. Limlingan added.
Among the sectoral indices, only industrials and property gained, with industrials closing at 10,926.32, up 4.27 points or 0.03%, and property closing at 3,855.43, up by 28.85 points or 0.75%.
Financials closed at 2,082.64, down 4.49 points or 0.21%; holding firms at 8,369.01, down 55.75 points or 0.66%; services at 1,629.96, down 5.54 points or 0.33%; mining and oil at 12,047.27, down 44.89 points or 0.37%.
Total volume traded was 1.43 billion, while total value was P6.93 billion. Decliners outnumbered advancers 109 to 83, and 50 remained unchanged.
Net foreign selling inched higher to end at P269.15 million from Tuesday’s P269.1 million. — P.P.C. Marcelo
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DISCLAIMER There is a very high degree of risk involved in TRADING. Past results are not indicative of future returns. Nothing contained in this newsletter constitutes a solicitation, recommendation, PROMOTION or endorsement of any security. In accordance with the Responsible TRADER’s Creed: I will never tell and you take full responsibility for all your TRADING results
NOTES: Please take note of the following changes. Effective August 6, 2015: 1. Caption Market Breadth has been changed to Total Traded Value to simplify the presentation. 2. Market Breadth is expressed in terms of Number of Advances and Declines. Expressing this as a Ratio by using the larger number as Numerator we derive the Market Sentiment whether Bullish or Bearish. 3. Based on Past three-year data of Average Total Traded Values, following classifications will be used to make the presentation more relevant to present times. a. Low – Total Traded Value less than PhP 8 Billion b. Medium – Total Traded Value Php 8 Billion but not more than P15 Billion c. High – Total Traded Value more than Php 15 Billion.
Starting with August 11, 2017 data we are including the Top Ten Gainers and Losers for a more comprehensive coverage of significant stock movements during the day.